Analysis Level
Required for all levels

Definition
This is the rate, entered as a percentage, that goes to the local jurisdiction and does not include any portion going to the state.

How its Used
The sales tax rate is multiplied times estimated taxable retail sales from all sources, e.g., from the facility’s local purchases, facility employees’ local purchases (residents and non-residents), and purchases generated from induced impacts.

How to Estimate it or Where to Get It
Local tax assessor’s office.

Descriptive Name
Assessment Rate

Analysis Level
Required for all levels

Definition
The assessment rate is used by various jurisdictions to lower the market value of property before assessing property taxes. Usually, this rate is 40%, but if no reduction is used in your locality, then use 100% in this field. Separate fields are used for real property (land and buildings), personal property (furniture and equiptment), and inventory.

How its Used
Used with facility property tax (millage) rates and facility property values to calculate real property taxes for the facility. The facility real property values, entered in the time-dependent fields, should be entered at their market values. For example, if the facility property represents a $10,000,000 investment and the assessment rate is 40%, you would enter $10,000,000 in year 1 of the facility real property stream and not $4,000,000, the assessed value.

How to Estimate it or Where to Get It
You can get this from a local tax assessors office.

Descriptive Name
Property Tax Rates

Analysis Level
Required for all levels

Definition
Cents per thousand dollars of assessed value, e.g., a millage rate of .024 means 24 cents per thousand dollars of assessed value. Separate millage rates are used for real property, personal property and inventory (for the facility), and for real and personal property of households.

How its Used
Use with real property tax assessment rates and the value of the facility’s real property to calculate real property taxes. For cities, only one rate is needed. For counties, up to three rates will be needed, i.e., one for incorporated areas which have their own school system (and therefore do not pay county school tax millage), one for incorporated areas which are a part of the county school system, and one for the unincorporated areas of the county.

How to Estimate it or Where to Get It
You can get this from a local tax assessor’s office.

Descriptive Name
Total Net Assessed Value of Residential Property (real and personal)

Analysis Level
Required for all levels

Definition
Total dollar value of assessed residential property minus exemptions from the most recent tax year. Real property is generally limited to improved real residential properties and personal property includes items such as motor vehicles, boats, mobile homes, and aircraft.

How its Used
Used to estimate real and personal property taxes expected from resident employees of the facility, from multiplier effects, or tourism impacts.

How to Estimate it or Where to Get It
The source for this data is the local tax assessors office. Ideally, this should include only real property with improvements (minus homestead exemptions) plus personal property owned by households. It is entered at the assessed value, not market value.

Descriptive Name
Total Commercial/Industrial Property Taxes Collected

Analysis Level
Required for Total Impacts

Definition
Total property taxes collected in a year from commercial and industrial properties (including real and all personal property) in the locality. Ideally, this would be specific to improvements and not undeveloped commercial tracts.

How its Used
Used in the estimation of real property taxes paid by the additional economic growth (multiplier impacts) expected from the facility.

How to Estimate it or Where to Get It
The source for this data would be the tax assessor’s office.